How to verify a token contract?

One of the key security features we've implemented is the ability to quickly verify a token's contract. Here’s how to do it step-by-step.

1. Recognizing Tokens by Market Cap

The asset page will vary depending on the token's market cap:

• For tokens outside the TOP 1000 by market cap, a security warning message will appear as a precaution.

• For tokens within the TOP 1000 by market cap, no warning message is shown, and only the EtherScan logo is displayed.

2. Verifying the Token

To verify a token’s contract, follow these steps:

• For tokens outside the TOP 1000, click the "Verify Token" button or the EtherScan logo (located below the red arrow).

• For tokens within the TOP 1000, click the EtherScan logo directly.

Where to verify the token

3. Navigating EtherScan

Once you click the EtherScan logo or the Verify Token button, you will be redirected to the token’s page on EtherScan.

• On the EtherScan page, locate and click the blue token name in the Token Tracker window (highlighted in a red rectangle in the image below).

Token's contract page on EtherScan

4. Checking the Token Overview

This will take you to the Token Overview page, where you can verify that you are dealing with the correct token, not an imposter. Here’s what to look for:

• Number of Token Holders: Check the left side (red rectangle) to see the number of token holders. A legitimate token usually has a large and diversified number of holders.

• Profile Summary: Check the right side (red rectangle) for the token’s contract address, website link, and social media profiles. This is crucial to ensure you're interacting with the correct token.

Token overview page on EtherScan

5. Inspecting the "Holders" Tab

Clicking on the "Holders" tab in the table reveals additional insights:

• Be cautious if most of the token supply is concentrated in a few addresses. While this alone doesn’t prove a token is fake, a high concentration (90% or more) in very few addresses is a potential red flag.

Token Holders tab on EtherScan

6. Additional Verification Tips

For some well-known tokens, EtherScan may already show a verified check mark in the profile summary. While this is a good sign, it’s still important to verify further.

USDC Verification Mark

USDT Verification Mark

Make sure the contract address matches the one listed on trusted platforms like CoinGecko or CoinMarketCap. Verifying the contract address ensures you’re interacting with the real token, not an imposter.

Contract address on CoinMarketCap

By following these steps, you can confidently verify that you’re handling the legitimate token and not a fraudulent one.